Hope is not a strategy

Category: Pension buy-ins and buyouts

“As long as the music is playing, you’ve got to get up and dance.” – Charles “Chuck” Prince, Citibank CEO, 2003-2007 They say history rarely repeats itself, but it often rhymes. This week Parliament launched an inquiry into the collapse of BHS, a fixture on the British high street for the better part of the … More Is this DB pensions’ Lehman moment?

A few years ago, I worked at a very special and unique place called Redington where I had the privilege of advising a handful of multi billion pound defined benefit pension trustee boards on their investment and risk management policies. It was a multifaceted job that involved helping these boards define their funding objectives and … More What is the Sharpe Ratio of a buy-in?